Jun 1, 2020 - Economy

Zynga buys Turkish mobile-game maker Peak for $1.8 billion

zynga illustration

Photo: Zynga

Zynga agreed to buy Turkish mobile-game maker Peak for $1.8 billion, split evenly between cash and stock.

Why it matters: It's the largest acquisition ever for Zynga, once one of the hottest Web 2.0 names in Silicon Valley, and has helped surge its stock to levels not seen since 2012.

  • Peak raised $19 million between 2011 and 2013 from firms like Earlybird VC, Hummingbird Ventures and Endeavor Catalyst.

The bottom line: "The deal brings Peak's 100-strong team plus two successful puzzle games, 'Toon Blast' and 'Toy Blast,' to Zynga's roster. Zynga stated in its announcement that the two game franchises have consistently ranked in the top 10 or 20 grossing games on the App Store over the past two years," writes Business Insider.

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